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Egypt, EU Sign Two Deals at 135 Million Euros
Source: 10/19/2018

Egypt and the European Union signed two agreements on realizing comprehensive growth, creating jobs and confronting illegal immigration challenges.

Egyptian Investment Minister Sahar Nasr and Director-General for European Neighborhood Policy and Enlargement Negotiations Christian Danielsson signed the deals at a total value of 135 million euros.

The 75-million-euro agreement is meant to support reforms which aim at alleviating the suffering of small and medium sized enterprises, particularly through securing long-term financing and supporting entrepreneurs' innovation, Nasr said during the inking ceremony.

The deal is also meant to create jobs for youths and women, she added. The 60-million-euro deal aims at supporting a program for confronting illegal immigration challenges besetting Egypt.

Within this context, seven employment projects will be implemented in 11 governorates at 27 million euros, she said.

Meanwhile, Danielsson said Egypt is the EU's no 1 development partner, noting that over 1.3 billion euros were extended in grants to Egypt.

After the inking ceremony, Nasr had talks with Johannes Hahn, the Commissioner for European Neighbourhood Policy and Enlargement Negotiations, on future projects within the framework of the EU-Egypt Single Support Framework.

Nasr underlined that the EU is vital strategic, development and investment partner.

She invited Hahn to attend the Africa 2018 Forum which will be held in Sharm el Sheikh on December 8 and 9.

The event will be held under the patronage of President Abdel Fattah El Sis, she noted.

Hahn stressed that the EU seeks to promote cooperation with Egypt, particularly to support economic and social development efforts. He added that Sisi plays a pivotal role in the region, especially to achieve security and stability.

He lauded the economic reform measures in Egypt as well as counter terrorism efforts.

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